Oil prices likely to increase as offensive escalates

From FT: Israel’s escalating ground offensive inside the Gaza Strip is expected to push up oil prices further this week. Concern the conflict could disrupt supplies from the region was one of the factors cited by analysts who expect a modest rise of oil prices, which on Friday jumped $1.74, or 3.9 per cent, to settle at $46.34 a barrel.

An Iranian military commander called on Islamic countries to cut oil exports to Israel’s supporters, the official Irna news agency said yesterday….. Full Article: Source